Sequoia Financial Advisors LLC Boosts Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Sequoia Financial Advisors LLC grew its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 24.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,568 shares of the company’s stock after acquiring an additional 911 shares during the period. Sequoia Financial Advisors LLC’s holdings in PDD were worth $443,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Prospera Private Wealth LLC bought a new position in PDD during the 3rd quarter valued at $27,000. Nisa Investment Advisors LLC acquired a new stake in shares of PDD in the 4th quarter valued at about $39,000. Brooklyn Investment Group lifted its position in shares of PDD by 340.3% during the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock worth $51,000 after purchasing an additional 405 shares during the last quarter. Global Retirement Partners LLC grew its stake in PDD by 939.6% in the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock worth $53,000 after purchasing an additional 498 shares in the last quarter. Finally, Avior Wealth Management LLC increased its holdings in PDD by 50.9% in the third quarter. Avior Wealth Management LLC now owns 501 shares of the company’s stock valued at $68,000 after buying an additional 169 shares during the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Stock Performance

Shares of NASDAQ PDD opened at $126.79 on Wednesday. PDD Holdings Inc. has a 12-month low of $88.01 and a 12-month high of $164.69. The company has a market cap of $174.45 billion, a PE ratio of 12.38, a P/E/G ratio of 0.32 and a beta of 0.69. The stock has a 50 day simple moving average of $113.99 and a 200-day simple moving average of $112.70. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02.

Analysts Set New Price Targets

PDD has been the subject of several research reports. Benchmark decreased their target price on PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Dbs Bank lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Jefferies Financial Group reduced their price target on shares of PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Finally, JPMorgan Chase & Co. downgraded shares of PDD from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $170.00 to $105.00 in a research report on Friday, November 22nd. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $173.40.

PDD Company Profile

PDD Holdings Inc, a multinational commerce group, owns and operates a portfolio of businesses. It operates Pinduoduo, an e-commerce platform that offers products in various categories, including agricultural produce, apparel, shoes, bags, mother and childcare products, food and beverage, electronic appliances, furniture and household goods, cosmetics and other personal care, sports and fitness items and auto accessories; and Temu, an online marketplace.